Here’s Why Robinhood (HOOD) Stock Price Soars 15% Today
The post Here’s Why Robinhood (HOOD) Stock Price Soars 15% Today appeared on BitcoinEthereumNews.com.
Robinhood (HOOD) stock price witnessed a remarkable 15% upshot on Thursday, primarily reflecting soaring market optimism in light of Robinhood Markets’ bullish Q4 2024 earnings. Intriguingly, the trading platform boasted outstanding results in sectors such as revenues, net deposits, subscribers, and net income, among other stats that appear to have uplifted market sentiment for its shares. Here’s a brief overview of the vital factors that appear to be driving the current stock price surge. Robinhood (HOOD) Stock Soars Amid Q4 Earnings Notably, Robinhood’s Q4 2024 earnings results released on February 12 ignited a positive market sentiment for its stock, underscoring phenomenal growth. Q4 revenues were up by 115% YoY, reaching a record $1.01 billion. Q4 net deposits grew to a record $16 billion. Q4 Gold subscribers were up by 86% YoY to a record 2.6 million. Q4 net income was up over 10x YoY to a record $916 million, or Diluted EPS (earnings per share) of a record $1.01, which is much higher compared to $30 million, or diluted EPS of $0.03, in Q4 2023. Overall, the earnings results showcased phenomenal growth for the trading firm over the past year, projecting bullishness on HOOD stock price. Crypto Market Growth Boosts Momentum? Simultaneously, it’s worth considering that the trading platform’s remarkable Q4 revenue is primarily driven by the crypto market’s growth. In light of bullish events such as BTC halving, ETF launches, and increased retail and institutional participation in crypto last year, Robinhood’s transaction-based revenue increased over 200% year-over-year to $672 million, which was primarily driven by cryptocurrency revenue of $358 million, up 700%. Further, net interest revenues increased by 25% YoY to $296 million. Other revenues increased by 31% YoY. Altogether, this broader surge, aiding the firm’s record Q4 2024 revenue of $1 billion, is thereby fueled by the broader…
Filed under: News - @ February 14, 2025 2:10 am